Non-oil GDP down 5.4% y/y in 2016
Non-oil GDP in Azerbaijan was down 5.4% y/y in 2016 on the back of a 27.6% y/y contraction in the construction sector. Excluding construction, non-oil GDP was down 0.7% y/y.

Consolidated budget surplus at 0.3% of GDP in 2016
Azerbaijan’s consolidated budget posted a AZN 0.2bn (US$ 0.1bn or 0.3% of GDP) surplus in 2016, compared to a budgeted deficit of AZN 8.8bn (US$ 5.5bn or -15.3% of GDP). Consolidated budget revenues were at AZN 21.6bn, 37.1% higher than budgeted. Consolidated budget expenditure was at AZN 21.4bn or 12.9% lower than budgeted.
In US$ terms, revenues amounted to US$ 13.5bn, while expenditures were at US$ 13.4bn in 2016.